The IRS announced on November 4 that employee 403(b) and 457(B) contributions for 2022 will top off at $20,500—a $1,000 increase from the $19,500 cap for 2021 and 2020.

Plan participants age 50 or older next year can contribute an additional $6,500. This is unchanged from 2021.

To make changes to your 403b, log in to your Retirement@Work account. If you want to make changes to your 457b, you should log in to your TEXA$AVER account.

For any questions about this information, please contact benefits@uhd.edu.